Basalt Fiber Market

Basalt Fiber Market by Usage (Composites, Non-Composites), End-Use Industry (Construction & Infrastrastructure, Automotive & Transportation, Wind Energy, Electrical & Electronics, Marine), and Region - Global Forecast to 2028

Report Code: CH 3164 Oct, 2023, by marketsandmarkets.com

The global basalt fiber market is poised for significant growth, with an expected valuation of USD 279 million in 2023, and a projected Compound Annual Growth Rate (CAGR) of 12.5% throughout the forecasted period, aiming to reach USD 503 million by 2028. This expansion is primarily propelled by the increasing demand and diverse applications in sectors like automotive and transportation, construction and infrastructure, wind energy, electrical and electronics, among others. The notable properties of basalt fibers, including their exceptional thermal stability, heat and sound insulation, vibration resistance, and overall durability, are major drivers behind their rising demand. Their inherent non-corrosive nature further contributes to their growing prominence. Additionally, the escalating adoption of environmentally friendly and easily recyclable materials presents a significant growth opportunity within the market.

However, the market faces certain constraints, including competition from well-established products like E-glass. Challenges such as the intricate manufacturing process and higher production costs compared to E-glass fibers, along with the need for greater promotion of basalt fiber, present hurdles for market growth.

Attractive Opportunities in the Basalt Fiber Market

Basalt Fiber Market

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Basalt Fiber Market

Global basalt fiber market Dynamics:

Drivers: Increase in demand for non-corrosive materials

The construction industry's growing demand for non-corrosive products remains on the rise due to their ability to cut costs and enhance the longevity of structures. Many developments in concrete technology are being made to improve structural integrity and lengthen the life of buildings and bridges. One such invention is the use of composite bars made of corrosion-resistant basalt fiber for concrete reinforcement. Basalt composites, which have a tensile strength three times greater than that of steel bars typically used in building construction, are naturally resistant to corrosion and contain about 80% fibers. These non-corrosive rebars made of basalt roving are strengthened with vinyl ester or epoxy resin, which is incredibly durable. Pultrusion, as well as in-line winding and coating, are steps in the manufacturing process. The rebar is strengthened by the basalt fibers, and the fibers are firmly bound together by the glue. When corrosion is a major concern, BFRP (basalt fiber reinforced plastic) rebars significantly extend the life of civil engineering structures compared to steel rebars. As an appropriate substitute for steel-reinforced rebars, BFRP rebars support structural framework assembly and overall stability.

Restraints: Lack of standardization in manufacturing technologies

The proliferation of basalt fiber and its composites across a range of applications, including consumer goods, remains hindered by manufacturing expenses and non-recurring development costs. Notable challenges revolve around design uniformity, process standardization, and maintenance technology. The absence of standardized materials and methodologies obliges manufacturers to opt for conventional, risk-averse designs and obstructs large-scale production. This lack of standardization also compels manufacturers to favor traditional products over composites for diverse applications.

Opportunities: Growing adoption of recyclable and eco-friendly materials

Stricter government rules are driving up demand for fiber and fiber-reinforced composite goods that are easily recyclable and eco-friendly. Additionally, a lot of customers say they want recyclable goods that don't damage the environment.

Developed countries like the US, Japan, and Germany are pushing for the use of environmentally friendly substitutes for petroleum-based goods. The usage of bio-based materials and regulations supporting the recyclable nature of car parts are highly prioritized in Europe. End-of-life vehicle disposal is a responsibility that is being pushed on automakers. It is predicted that these regulatory actions would increase the usage of natural fiber composites, such as basalt fiber, in a variety of end-use sectors and industries, including automotive and transportation, construction and infrastructure, electrical and electronics, and others.

Challenges: Complex manufacturing process compared to E-glass fibers

The primary factor impeding the rapid growth of the basalt fiber industry is the intricate technical process involved in transforming basalt rock into basalt fiber. This production procedure necessitates extremely high furnace temperatures, reaching up to 1,450 degrees Celsius, and these temperatures must be maintained within an exceptionally narrow margin of error, typically just two to three degrees. Achieving this level of temperature control for the extrusion bushings is a complex task that involves the supply of electricity from outside the furnace, adding to the inherent difficulty. Because of the complexity of the raw material production process and the resulting high prices, researchers and major basalt fiber manufacturers continue to face significant challenges in developing cost-effective methods. This intricacy is another factor driving up the cost of basalt fibers. Because basalt fibers are more expensive than E-glass fibers, which are more commonly used, E-glass fibers are still the favored option when money is tight.

Simplifying the process of producing basalt fiber from raw basalt while reducing the amount of power needed for furnace heating is essential to satisfying the growing demand for basalt fiber in the building and construction industry.

Basalt Fiber Market: Ecosystem

Basalt Fiber Market Ecosystem

Construction & infrastructure industry segment account for the largest market share.

Traditional construction materials have long relied on steel-reinforced concrete. However, because of its exceptional strength and corrosion resistance, basalt fiber is currently seeing a rise in use in the infrastructure and building sectors. The increasing use of basalt fiber in infrastructure and construction is mainly due to its great compatibility with concrete, ease of integration at larger concentrations, and eco-friendliness.

Superior mechanical strength is provided by basalt fiber, which is essential for building in harsh environmental settings. Interestingly, the price of these fibers is substantially less than that of other alkali-resistant fibers. Industry insiders claim that four tons of steel rods can be substituted for one ton of basalt rods in terms of reinforcing. When taken as a whole, these benefits make basalt fiber a practical and affordable substitute for the materials that are currently widely available on the market.

Usage of basalt fiber in composites is the segment of the market in terms of value and volume.

Because of its remarkable mechanical, chemical, and thermal properties, basalt fiber is a strong contender to replace E-glass in a variety of composite materials, especially when the material must withstand harsh environments. The use of basalt fibers and their composites in civil and transportation infrastructure applications is constantly rising as a means of improving the structural safety and sustainability of construction projects. Interestingly, basalt fibers are highly compatible with matrix resins and can hybridize with other fibers, steel wires, or steel bars. A noticeable synergistic effect is produced by this hybridization, which exhibits improved fatigue resistance, high-temperature performance, and short- and long-term mechanical properties.

Both BFRP and hybrid FRP materials are essential for a variety of applications, such as smart structures, long-span bridge construction, damage controllable and recoverable structures, and the creation of lightweight and sustainable structures, in addition to their role in general structural reinforcement through BFRP composites.

Continuous form to be the fastest growing segment of basalt fiber on the basis of form.

The segment characterized by the continuous form of basalt fiber has emerged as the most rapidly expanding and dominant category within the basalt fiber market's form type segment. Continuous basalt fiber is recognized for its eco-friendly nature, rendering it suitable for a wide array of applications. These applications encompass the reinforcement of nets, pipes, containers, electrical insulation materials, basalt plastic products, and various others. Furthermore, continuous basalt fibers deliver superior strength, surpassing that of steel, which positions them as a favored material in the construction industry.

Asia Pacific held the largest market share in the basalt fiber market in 2022.

The Asia Pacific region stands out as the primary consumer of basalt fiber, driven by significant demand from countries like China, Japan, Singapore, and others. Anticipated growth in the basalt fiber market in the Asia Pacific (APAC) region is underpinned by the escalating utilization of basalt fiber across diverse industries, including wind energy, construction and infrastructure, electrical and electronics, and automotive. This expansion is also attributed to the burgeoning industrial development observed in nations like China and Japan. Chinese producers of basalt fiber are actively exploring cutting-edge manufacturing techniques that prioritize the creation of continuous basalt fiber that is reasonably priced. Notably, China's transportation and electrical and electronics industries are big users of basalt fiber, which is anticipated to improve the market's standing even more. China has a sizable basalt fiber production capability, making it ready to handle unforeseen spikes in demand. Meanwhile, research projects are underway in nations like Singapore and Japan with the goal of creating commercial uses for basalt fiber.

Basalt Fiber Market by Region

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Rising demand for environmentally friendly and easily recyclable material

Basalt fiber, derived from naturally occurring basalt rock, offers a notable range of advantageous attributes. Basalt is an extrusive, fine-grained igneous rock comprising plagioclase, feldspar, pyroxene, and magnetite, featuring olivine with less than 53 wt% SiO2 and under 5 wt% total alkalis. These fibers are characterized by their exceptional mechanical properties, including heightened tensile strength, and are also more cost-effective to manufacture compared to glass fibers. What sets basalt fibers apart is their recyclability, making them environmentally friendly and sustainable materials. When basalt fibers within the resin are recycled, they revert to natural basalt powder, maintaining the eco-friendly cycle.

As a result of these eco-conscious and recyclable qualities, the demand for basalt fiber is on the rise, supplanting the usage of glass fiber. Furthermore, the growing stringency of regulations against the use of glass fibers is anticipated to fuel the adoption of basalt fiber and basalt composites across various industries, including automotive and transportation, construction and infrastructure, and other end-use sectors.

Key Market Players

  • Kamenny Vek (Russia)
  • Zhejiang GBF Basalt Fiber Co. (China)
  • JFE RockFiber Corp. (Japan)
  • Mafic SA (Ireland)
  • Technobasalt-Invest LLC (Ukraine)
  • Russian Basalt (Russia)
  • ISOMATEX SA (Belgium)
  • INCOTELOGY GmbH (Germany)
  • Sudaglass Basalt Fiber Technology (US)
  • Shanxi Basalt Fiber Technology Co., Ltd (China)
  • Mudanjiang Basalt Fiber Co. (China).

These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the basalt fiber industry. The study includes an in-depth competitive analysis of these key players in the basalt fiber market, with their company profiles, recent developments, and key market strategies

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Scope of the Report

:

Report Metric

Details

Market size available for years

2018–2028

Base year considered

2022

Forecast period

2023–2028

Forecast units

Value (USD Thousands), Volume (Tons)

Segments Covered

By Form, By Usage, By End Use Industry and Region

Regions covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Companies covered

Kamenny Vek (Russia), Zhejiang GBF Basalt Fiber Co. (China), JFE RockFiber Corp. (Japan), Mafic SA (Ireland), Technobasalt-Invest LLC (Ukraine), Russian Basalt (Russia), ISOMATEX SA (Belgium), INCOTELOGY GmbH (Germany), Sudaglass Basalt Fiber Technology (US), Shanxi Basalt Fiber Technology Co., Ltd (China), Mudanjiang Basalt Fiber Co. (China)

By Form:
  • Continuous
  • Discrete
By Usage:
  • Composites
  • Non-Composites
By end-use industry:
  • Automotive & Transportation
  • Construction & Infrastructure
  • Electrical & Electronics
  • Wind Energy
  • Marine
  • Others
By region:
  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Recent Developments

  • In November 2021, Zhejiang Shijin Basalt Fiber Co., Ltd. (GBF) has developed basalt fiber yarn wrapped CNG cylinder. Automotive CNG cylinders wrapped with GBF brand monofilament diameter 7 micron twist less roving, working pressure ≥ 20MPa.
  • In November 2020, Zhejiang Shijin Basalt Fiber Co., Ltd. (GBF) and Dongyang Communications Investment and Construction Group Co., Ltd. signed and strategic cooperation agreement. The signing of this agreement will greatly promote the application of basalt fiber and products in the highway field.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 25)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE 
          FIGURE 1 BASALT FIBER MARKET SEGMENTATION
           1.3.1 REGIONS COVERED
           1.3.2 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 UNITS CONSIDERED 
    1.6 LIMITATIONS 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
    1.9 RECESSION IMPACT 
 
2 RESEARCH METHODOLOGY (Page No. - 29)
    2.1 RESEARCH APPROACH 
          FIGURE 2 BASALT FIBER MARKET: RESEARCH DESIGN
    2.2 BASE NUMBER CALCULATION 
           2.2.1 APPROACH 1: SUPPLY-SIDE ANALYSIS
           2.2.2 APPROACH 2: DEMAND-SIDE ANALYSIS
    2.3 RECESSION IMPACT 
          FIGURE 3 MAJOR FACTORS RESPONSIBLE FOR GLOBAL RECESSION AND THEIR IMPACT ON BASALT FIBER MARKET
    2.4 RESEARCH DATA 
           2.4.1 SECONDARY DATA
                    2.4.1.1 Key data from secondary sources
           2.4.2 PRIMARY DATA
                    2.4.2.1 Key data from primary sources
                    2.4.2.2 Primary interviews—top basalt fiber manufacturers
                    2.4.2.3 Breakdown of primary interviews
                    2.4.2.4 Key industry insights
    2.5 MARKET SIZE ESTIMATION 
           2.5.1 BOTTOM-UP APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH
           2.5.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION: TOP-DOWN APPROACH
    2.6 MARKET FORECAST APPROACH 
           2.6.1 SUPPLY SIDE
           2.6.2 DEMAND SIDE
    2.7 DATA TRIANGULATION 
          FIGURE 6 BASALT FIBER MARKET: DATA TRIANGULATION
    2.8 ASSUMPTIONS 
    2.9 GROWTH FORECAST 
    2.10 RESEARCH LIMITATIONS 
    2.11 RISK ANALYSIS 
 
3 EXECUTIVE SUMMARY (Page No. - 40)
    FIGURE 7 CONTINUOUS FORM LED BASALT FIBER MARKET IN 2022
    FIGURE 8 COMPOSITES SEGMENT DOMINATED MARKET IN 2022
    FIGURE 9 AUTOMOTIVE & TRANSPORTATION INDUSTRY LED MARKET IN 2022
    FIGURE 10 ASIA PACIFIC TO RECORD HIGHEST GROWTH DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 44)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN BASALT FIBER MARKET 
          FIGURE 11 SIGNIFICANT GROWTH EXPECTED IN BASALT FIBER MARKET BETWEEN 2023 AND 2028
    4.2 BASALT FIBER MARKET, BY FORM AND REGION 
          FIGURE 12 CONTINUOUS FORM AND ASIA PACIFIC WERE LARGEST MARKETS IN 2022
    4.3 BASALT FIBER MARKET, BY USAGE 
          FIGURE 13 COMPOSITES SEGMENT DOMINATED MARKET IN 2022
    4.4 BASALT FIBER MARKET, BY END-USE INDUSTRY 
          FIGURE 14 CONSTRUCTION & INFRASTRUCTURE WAS LARGEST END-USE INDUSTRY IN 2022
    4.5 BASALT FIBER MARKET GROWTH, BY KEY COUNTRY 
          FIGURE 15 CHINA TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 48)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
          FIGURE 16 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN BASALT FIBER MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increase in demand for non-corrosive materials
                    5.2.1.2 Resistance to extreme temperatures and vibrations
                                TABLE 1 MECHANICAL & PHYSICAL PROPERTIES OF FIBERS
                                TABLE 2 TEMPERATURE RANGE OF FIBERS
                    5.2.1.3 Need for environment-friendly and recyclable material
           5.2.2 RESTRAINTS
                    5.2.2.1 Use of substitutes in construction sector
                    5.2.2.2 Lack of standardized manufacturing technologies
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rising demand for basalt fibers from marine sector
                    5.2.3.2 Increased adoption of eco-friendly fiber-reinforced composite products
           5.2.4 CHALLENGES
                    5.2.4.1 Complex manufacturing process and high cost compared to E-glass fibers
                    5.2.4.2 Technical complexities in production process
    5.3 PORTER’S FIVE FORCES ANALYSIS 
          FIGURE 17 BASALT FIBER MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF BUYERS
           5.3.4 BARGAINING POWER OF SUPPLIERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                     TABLE 3 BASALT FIBER MARKET: PORTER’S FIVE FORCES ANALYSIS
    5.4 SUPPLY CHAIN ANALYSIS 
          TABLE 4 BASALT FIBER MARKET: COMPANIES AND THEIR ROLE IN ECOSYSTEM
    5.5 PRICING ANALYSIS 
           5.5.1 AVERAGE SELLING PRICE, BY END-USE INDUSTRY
                     FIGURE 18 AVERAGE SELLING PRICE TREND OF KEY PLAYERS BY TOP THREE END-USE INDUSTRIES (USD/KG)
                     TABLE 5 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TOP 3 END-USE INDUSTRIES (USD/KG)
    5.6 AVERAGE SELLING PRICE TREND, BY REGION 
          TABLE 6 BASALT FIBER MARKET: AVERAGE SELLING PRICE, BY REGION
    5.7 TRADE DATA ANALYSIS 
           5.7.1 EXPORT SCENARIO OF BASALT FIBERS
                     TABLE 7 TOP 25 EXPORTING COUNTRIES IN 2022
           5.7.2 IMPORT SCENARIO OF BASALT FIBERS
                     TABLE 8 TOP 25 IMPORTING COUNTRIES IN 2022
    5.8 KEY STAKEHOLDERS & BUYING CRITERIA 
           5.8.1 KEY STAKEHOLDERS IN BUYING PROCESS
                     FIGURE 19 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USE INDUSTRIES
                     TABLE 9 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP 3 END-USE INDUSTRIES
           5.8.2 BUYING CRITERIA
                     FIGURE 20 KEY BUYING CRITERIA FOR TOP 3 END-USE INDUSTRIES
                     TABLE 10 KEY BUYING CRITERIA FOR TOP 3 END-USE INDUSTRIES
    5.9 TECHNOLOGY ANALYSIS 
          TABLE 11 COMPARATIVE STUDY OF MAJOR BASALT FIBER COMPOSITE MANUFACTURING PROCESSES
    5.10 ECOSYSTEM MAP 
           FIGURE 21 ECOSYSTEM MAP: BASALT FIBER MARKET
    5.11 VALUE CHAIN ANALYSIS 
           FIGURE 22 VALUE CHAIN ANALYSIS: BASALT FIBER MARKET
    5.12 CASE STUDY ANALYSIS 
           FIGURE 23 CASE STUDY ANALYSIS: BASALT FIBER MARKET
    5.13 TRENDS AND DISRUPTIONS IMPACTING CUSTOMER BUSINESS 
           FIGURE 24 REVENUE SHIFT FOR BASALT FIBER MARKET
    5.14 TARIFF AND REGULATORY LANDSCAPE 
           5.14.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 12 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 13 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 14 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.14.2 STANDARDS FOR BASALT FIBER MARKET
                     TABLE 15 CURRENT STANDARD CODES FOR BASALT FIBER MARKET
    5.15 PATENT ANALYSIS 
           5.15.1 INTRODUCTION
           5.15.2 METHODOLOGY
           5.15.3 DOCUMENT TYPES
                     TABLE 16 BASALT FIBER MARKET: GLOBAL PATENTS
                     FIGURE 25 GLOBAL PATENT ANALYSIS, BY DOCUMENT TYPE
                     FIGURE 26 GLOBAL PATENT PUBLICATION TREND, 2013–2023
           5.15.4 INSIGHTS
           5.15.5 LEGAL STATUS
                     FIGURE 27 BASALT FIBER MARKET: LEGAL STATUS OF PATENTS
           5.15.6 JURISDICTION ANALYSIS
                     FIGURE 28 GLOBAL JURISDICTION ANALYSIS, 2013–2023
           5.15.7 TOP APPLICANTS
                     FIGURE 29 SICHUAN AEROSPACE WUYUAN COMPOSITE MATERIALS CO., LTD. REGISTERED HIGHEST NUMBER OF PATENTS
                     TABLE 17 PATENTS BY SICHUAN AEROSPACE WUYUAN COMPOSITE MATERIALS CO., LTD.
           5.15.8 PATENTS BY ZHENGZHOU DENGDIAN CBF CO., LTD.
           5.15.9 PATENTS BY SOUTHEAST UNIVERSITY
                    5.15.10 TOP PATENT OWNERS (US) IN LAST 10 YEARS
    5.16 KEY CONFERENCES & EVENTS, 2023–2024 
           TABLE 18 KEY CONFERENCES & EVENTS RELATED TO BASALT FIBER AND RELATED MARKETS, 2023–2024
 
6 BASALT FIBER MARKET, BY FORM (Page No. - 73)
    6.1 INTRODUCTION 
          FIGURE 30 CONTINUOUS BASALT FIBER RECORDS FASTER GROWTH DURING FORECAST PERIOD
          TABLE 19 BASALT FIBER MARKET, BY FORM, 2018–2022 (TON)
          TABLE 20 BASALT FIBER MARKET, BY FORM, 2018–2022 (USD THOUSAND)
          TABLE 21 BASALT FIBER MARKET, BY FORM, 2023–2028 (TON)
          TABLE 22 BASALT FIBER MARKET, BY FORM, 2023–2028 (USD THOUSAND)
    6.2 CONTINUOUS BASALT FIBER 
           6.2.1 HIGH EFFICIENCY AND TENSILE STRENGTH TO DRIVE MARKET
           6.2.2 CONTINUOUS: BASALT FIBER MARKET, BY REGION
                    TABLE 23 CONTINUOUS: BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
                    TABLE 24 CONTINUOUS: BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
                    TABLE 25 CONTINUOUS: BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
                    TABLE 26 CONTINUOUS: BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
    6.3 DISCRETE BASALT FIBER 
           6.3.1 GROWTH OF CONSTRUCTION AND TRANSPORTATION SECTORS TO FUEL MARKET
           6.3.2 DISCRETE: BASALT FIBER MARKET, BY REGION
                    TABLE 27 DISCRETE: BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
                    TABLE 28 DISCRETE: BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
                    TABLE 29 DISCRETE: BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
                    TABLE 30 DISCRETE: BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
 
7 BASALT FIBER MARKET, BY USAGE TYPE (Page No. - 80)
    7.1 INTRODUCTION 
          TABLE 31 CHEMICAL COMPOSITION OF GLASS AND BASALT FIBERS
          TABLE 32 TENSILE STRENGTH OF FIBERS
          TABLE 33 BASALT FIBER STIFFNESS PROPERTIES
          FIGURE 31 BASALT FIBER COMPOSITES TO GROW AT FASTER RATE DURING FORECAST PERIOD
          TABLE 34 BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (TON)
          TABLE 35 BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (USD THOUSAND)
          TABLE 36 BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (TON)
          TABLE 37 BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (USD THOUSAND)
    7.2 COMPOSITE BASALT FIBER 
           7.2.1 ENHANCED SAFETY AND SUSTAINABILITY TO DRIVE MARKET
           7.2.2 COMPOSITES: BASALT FIBER MARKET, BY REGION
                    TABLE 38 COMPOSITES: BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
                    TABLE 39 COMPOSITES: BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
                    TABLE 40 COMPOSITES: BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
                    TABLE 41 COMPOSITES: BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
    7.3 NON-COMPOSITE BASALT FIBER 
           7.3.1 WIDE USE IN INSULATION SLEEVES AND CONCRETE REINFORCEMENTS TO FUEL MARKET
                    TABLE 42 COMPARATIVE CHARACTERISTICS OF FIBERS
           7.3.2 NON-COMPOSITES: BASALT FIBER MARKET, BY REGION
                    TABLE 43 NON-COMPOSITES: BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
                    TABLE 44 NON-COMPOSITES: BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
                    TABLE 45 NON-COMPOSITES: BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
                    TABLE 46 NON-COMPOSITES: BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
 
8 BASALT FIBER MARKET, BY END-USE INDUSTRY (Page No. - 88)
    8.1 INTRODUCTION 
          FIGURE 32 CONSTRUCTION & INFRASTRUCTURE SEGMENT ACCOUNTED FOR LARGEST SHARE DURING FORECAST PERIOD
          TABLE 47 BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
          TABLE 48 BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
          TABLE 49 BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
          TABLE 50 BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
    8.2 CONSTRUCTION & INFRASTRUCTURE 
           8.2.1 ZERO ELECTRICAL AND MAGNETIC CONDUCTION TO DRIVE MARKET
           8.2.2 CONSTRUCTION & INFRASTRUCTURE: BASALT FIBER MARKET, BY REGION
                    TABLE 51 CONSTRUCTION & INFRASTRUCTURE: BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
                    TABLE 52 CONSTRUCTION & INFRASTRUCTURE: BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
                    TABLE 53 CONSTRUCTION & INFRASTRUCTURE: BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
                    TABLE 54 CONSTRUCTION & INFRASTRUCTURE: BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
    8.3 AUTOMOTIVE & TRANSPORTATION 
           8.3.1 COST REDUCTION OF MOLDING COMPOUNDS AND VEHICLES TO DRIVE MARKET
           8.3.2 AUTOMOTIVE & TRANSPORTATION: BASALT FIBER MARKET, BY REGION
                    TABLE 55 AUTOMOTIVE & TRANSPORTATION: BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
                    TABLE 56 AUTOMOTIVE & TRANSPORTATION: BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
                    TABLE 57 AUTOMOTIVE & TRANSPORTATION: BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
                    TABLE 58 AUTOMOTIVE & TRANSPORTATION: BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
    8.4 ELECTRICAL & ELECTRONICS 
           8.4.1 GOOD INSULATION PROPERTIES TO FUEL DEMAND FOR BASALT FIBERS IN ELECTRONICS
           8.4.2 ELECTRICAL & ELECTRONICS: BASALT FIBER MARKET, BY REGION
                    TABLE 59 ELECTRICAL & ELECTRONICS: BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
                    TABLE 60 ELECTRICAL & ELECTRONICS: BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
                    TABLE 61 ELECTRICAL & ELECTRONICS: BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
                    TABLE 62 ELECTRICAL & ELECTRONICS: BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
    8.5 WIND ENERGY 
           8.5.1 HIGH DEMAND FOR BASALT ROVING IN WIND TURBINES TO BOOST MARKET
           8.5.2 WIND ENERGY: BASALT FIBER MARKET, BY REGION
                    TABLE 63 WIND ENERGY: BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
                    TABLE 64 WIND ENERGY: BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
                    TABLE 65 WIND ENERGY: BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
                    TABLE 66 WIND ENERGY: BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
    8.6 MARINE 
           8.6.1 CONSTRUCTION OF MARINE DECKS AND PONTOONS TO FUEL DEMAND FOR BASALT PRODUCTS
           8.6.2 MARINE: BASALT FIBER MARKET, BY REGION
                    TABLE 67 MARINE: BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
                    TABLE 68 MARINE: BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
                    TABLE 69 MARINE: BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
                    TABLE 70 MARINE: BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
    8.7 OTHER END-USE INDUSTRIES 
           8.7.1 OTHER END-USE INDUSTRIES: BASALT FIBER MARKET, BY REGION
                    TABLE 71 OTHER END-USE INDUSTRIES: BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
                    TABLE 72 OTHER END-USE INDUSTRIES: BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
                    TABLE 73 OTHER END-USE INDUSTRIES: BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
                    TABLE 74 OTHER END-USE INDUSTRIES: BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
 
9 BASALT FIBER MARKET, BY REGION (Page No. - 103)
    9.1 INTRODUCTION 
          FIGURE 33 CHINA TO REGISTER HIGHEST GROWTH RATE DURING FORECAST PERIOD
          TABLE 75 BASALT FIBER MARKET, BY REGION, 2018–2022 (TON)
          TABLE 76 BASALT FIBER MARKET, BY REGION, 2018–2022 (USD THOUSAND)
          TABLE 77 BASALT FIBER MARKET, BY REGION, 2023–2028 (TON)
          TABLE 78 BASALT FIBER MARKET, BY REGION, 2023–2028 (USD THOUSAND)
    9.2 NORTH AMERICA 
           9.2.1 RECESSION IMPACT ON NORTH AMERICA
                    FIGURE 34 NORTH AMERICA: BASALT FIBER MARKET SNAPSHOT
           9.2.2 NORTH AMERICA: BASALT FIBER MARKET, BY FORM
                    TABLE 79 NORTH AMERICA: BASALT FIBER MARKET, BY FORM, 2018–2022 (TON)
                    TABLE 80 NORTH AMERICA: BASALT FIBER MARKET, BY FORM, 2018–2022 (USD THOUSAND)
                    TABLE 81 NORTH AMERICA: BASALT FIBER MARKET, BY FORM, 2023–2028 (TON)
                    TABLE 82 NORTH AMERICA: BASALT FIBER MARKET, BY FORM, 2023–2028 (USD THOUSAND)
           9.2.3 NORTH AMERICA: BASALT FIBER MARKET, BY USAGE TYPE
                    TABLE 83 NORTH AMERICA: BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (TON)
                    TABLE 84 NORTH AMERICA: BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (USD THOUSAND)
                    TABLE 85 NORTH AMERICA: BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (TON)
                    TABLE 86 NORTH AMERICA: BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (USD THOUSAND)
           9.2.4 NORTH AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY
                    TABLE 87 NORTH AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                    TABLE 88 NORTH AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                    TABLE 89 NORTH AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                    TABLE 90 NORTH AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
           9.2.5 NORTH AMERICA: BASALT FIBER MARKET, BY COUNTRY
                    TABLE 91 NORTH AMERICA: BASALT FIBER MARKET, BY COUNTRY, 2018–2022 (TON)
                    TABLE 92 NORTH AMERICA: BASALT FIBER MARKET, BY COUNTRY, 2018–2022 (USD THOUSAND)
                    TABLE 93 NORTH AMERICA: BASALT FIBER MARKET, BY COUNTRY, 2023–2028 (TON)
                    TABLE 94 NORTH AMERICA: BASALT FIBER MARKET BY COUNTRY, 2023–2028 (USD THOUSAND)
                    9.2.5.1 US
                               9.2.5.1.1 Increase in production capacity of basalt fibers to drive market
                                              TABLE 95 US: NEW WIND ENERGY INSTALLATIONS, 2010–2021 (MW)
                               9.2.5.1.2 US: Basalt fiber market, by end-use industry
                                              TABLE 96 US: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 97 US: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 98 US: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 99 US: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.2.5.2 Canada
                               9.2.5.2.1 Well-established aerospace sector to drive market
                               9.2.5.2.2 Canada: Basalt fiber market, by end-use industry
                                              TABLE 100 CANADA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 101 CANADA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 102 CANADA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 103 CANADA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
    9.3 EUROPE 
           9.3.1 RECESSION IMPACT ON EUROPE
                    FIGURE 35 EUROPE: BASALT FIBER MARKET SNAPSHOT
           9.3.2 EUROPE: BASALT FIBER MARKET, BY FORM
                    TABLE 104 EUROPE: BASALT FIBER MARKET, BY FORM, 2018–2022 (TON)
                    TABLE 105 EUROPE: BASALT FIBER MARKET, BY FORM, 2018–2022 (USD THOUSAND)
                    TABLE 106 EUROPE: BASALT FIBER MARKET, BY FORM, 2023–2028 (TON)
                    TABLE 107 EUROPE: BASALT FIBER MARKET, BY FORM, 2023–2028 (USD THOUSAND)
           9.3.3 EUROPE: BASALT FIBER MARKET, BY USAGE TYPE
                    TABLE 108 EUROPE: BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (TON)
                    TABLE 109 EUROPE: BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (USD THOUSAND)
                    TABLE 110 EUROPE: BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (TON)
                    TABLE 111 EUROPE: BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (USD THOUSAND)
           9.3.4 EUROPE: BASALT FIBER MARKET, BY END-USE INDUSTRY
                    TABLE 112 EUROPE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                    TABLE 113 EUROPE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                    TABLE 114 EUROPE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                    TABLE 115 EUROPE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
           9.3.5 EUROPE: BASALT FIBER MARKET, BY COUNTRY
                    TABLE 116 EUROPE: BASALT FIBER MARKET, BY COUNTRY, 2018–2022 (TON)
                    TABLE 117 EUROPE: BASALT FIBER MARKET, BY COUNTRY, 2018–2022 (USD THOUSAND)
                    TABLE 118 EUROPE: BASALT FIBER MARKET, BY COUNTRY, 2023–2028 (TON)
                    TABLE 119 EUROPE: BASALT FIBER MARKET, BY COUNTRY, 2023–2028 (USD THOUSAND)
                    9.3.5.1 Russia
                               9.3.5.1.1 Presence of established manufacturing companies to fuel market
                               9.3.5.1.2 Russia: Basalt fiber market, by end-use industry
                                              TABLE 120 RUSSIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 121 RUSSIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 122 RUSSIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 123 RUSSIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.3.5.2 Ukraine
                               9.3.5.2.1 Abundant reserves of basalt rocks to drive market
                               9.3.5.2.2 Ukraine: Basalt fiber market, by end-use industry
                                              TABLE 124 UKRAINE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 125 UKRAINE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 126 UKRAINE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 127 UKRAINE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.3.5.3 UK
                               9.3.5.3.1 Increasing need for fuel efficiency in vehicles to drive market
                               9.3.5.3.2 UK: Basalt fiber market, by end-use industry
                                              TABLE 128 UK: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 129 UK: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 130 UK: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 131 UK: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.3.5.4 Germany
                               9.3.5.4.1 Presence of renowned automotive brands to boost market
                                              TABLE 132 GERMANY: NEW WIND ENERGY INSTALLATIONS, 2010–2020 (MW)
                               9.3.5.4.2 Germany: Basalt fiber market, by end-use industry
                                              TABLE 133 GERMANY: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 134 GERMANY: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 135 GERMANY: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 136 GERMANY: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.3.5.5 Ireland
                               9.3.5.5.1 High demand from wind energy sector to fuel market
                               9.3.5.5.2 Ireland: Basalt fiber market, by end-use industry
                                              TABLE 137 IRELAND: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 138 IRELAND: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 139 IRELAND: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 140 IRELAND: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.3.5.6 Belgium
                               9.3.5.6.1 Growth of automotive & transportation industry to drive market
                               9.3.5.6.2 Belgium: Basalt fiber market, by end-use industry
                                              TABLE 141 BELGIUM: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 142 BELGIUM: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 143 BELGIUM: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 144 BELGIUM: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.3.5.7 Rest of Europe
                               9.3.5.7.1 Rest of Europe: Basalt fiber market, by end-use industry
                                              TABLE 145 REST OF EUROPE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 146 REST OF EUROPE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 147 REST OF EUROPE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 148 REST OF EUROPE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
    9.4 ASIA PACIFIC 
           9.4.1 RECESSION IMPACT ON ASIA PACIFIC
                    FIGURE 36 ASIA PACIFIC: BASALT FIBER MARKET SNAPSHOT
           9.4.2 ASIA PACIFIC: BASALT FIBER MARKET, BY FORM
                    TABLE 149 ASIA PACIFIC: BASALT FIBER MARKET, BY FORM, 2018–2022 (TON)
                    TABLE 150 ASIA PACIFIC: BASALT FIBER MARKET, BY FORM, 2018–2022 (USD THOUSAND)
                    TABLE 151 ASIA PACIFIC: BASALT FIBER MARKET, BY FORM, 2023–2028 (TON)
                    TABLE 152 ASIA PACIFIC: BASALT FIBER MARKET, BY FORM, 2023–2028 (USD THOUSAND)
           9.4.3 ASIA PACIFIC: BASALT FIBER MARKET, BY USAGE TYPE
                    TABLE 153 ASIA PACIFIC: BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (TON)
                    TABLE 154 ASIA PACIFIC: BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (USD THOUSAND)
                    TABLE 155 ASIA PACIFIC: BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (TON)
                    TABLE 156 ASIA PACIFIC: BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (USD THOUSAND)
           9.4.4 ASIA PACIFIC: BASALT FIBER MARKET, BY END-USE INDUSTRY
                    TABLE 157 ASIA PACIFIC: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                    TABLE 158 ASIA PACIFIC: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                    TABLE 159 ASIA PACIFIC: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                    TABLE 160 ASIA PACIFIC: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
           9.4.5 ASIA PACIFIC: BASALT FIBER MARKET, BY COUNTRY
                    TABLE 161 ASIA PACIFIC: BASALT FIBER MARKET, BY COUNTRY, 2018–2022 (TON)
                    TABLE 162 ASIA PACIFIC: BASALT FIBER MARKET, BY COUNTRY, 2018–2022 (USD THOUSAND)
                    TABLE 163 ASIA PACIFIC: BASALT FIBER MARKET, BY COUNTRY, 2023–2028 (TON)
                    TABLE 164 ASIA PACIFIC: BASALT FIBER MARKET, BY COUNTRY, 2023–2028 (USD THOUSAND)
                    9.4.5.1 China
                               9.4.5.1.1 High number of wind energy installations to drive market
                                              TABLE 165 CHINA: NEW WIND ENERGY INSTALLATIONS, 2010–2020 (MW)
                               9.4.5.1.2 China: Basalt fiber market, by end-use industry
                                              TABLE 166 CHINA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 167 CHINA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 168 CHINA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 169 CHINA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.4.5.2 India
                               9.4.5.2.1 Government investments in infrastructure industry to boost market
                               9.4.5.2.2 India: Basalt fiber market, by end-use industry
                                              TABLE 170 INDIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 171 INDIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 172 INDIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 173 INDIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.4.5.3 Japan
                               9.4.5.3.1 Growth of automotive sector to fuel market
                               9.4.5.3.2 Japan: Basalt fiber market, by end-use industry
                                              TABLE 174 JAPAN: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 175 JAPAN: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 176 JAPAN: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 177 JAPAN: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.4.5.4 South Korea
                               9.4.5.4.1 Industrial growth and technological advancements to drive market
                               9.4.5.4.2 South Korea: Basalt fiber market, by end-use industry
                                              TABLE 178 SOUTH KOREA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 179 SOUTH KOREA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 180 SOUTH KOREA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 181 SOUTH KOREA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.4.5.5 Australia & New Zealand
                               9.4.5.5.1 Rapid developments in transportation sector to boost market
                               9.4.5.5.2 Australia & New Zealand: Basalt fiber market, by end-use industry
                                              TABLE 182 AUSTRALIA & NEW ZEALAND: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 183 AUSTRALIA & NEW ZEALAND: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 184 AUSTRALIA & NEW ZEALAND: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 185 AUSTRALIA & NEW ZEALAND: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.4.5.6 Rest of Asia Pacific
                               9.4.5.6.1 Rest of Asia Pacific: Basalt fiber market, by end-use industry
                                              TABLE 186 REST OF ASIA PACIFIC: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 187 REST OF ASIA PACIFIC: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 188 REST OF ASIA PACIFIC: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 189 REST OF ASIA PACIFIC: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
    9.5 MIDDLE EAST & AFRICA 
           9.5.1 RECESSION IMPACT ON MIDDLE EAST & AFRICA
           9.5.2 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY FORM
                    TABLE 190 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY FORM, 2018–2022 (TON)
                    TABLE 191 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY FORM, 2018–2022 (USD THOUSAND)
                    TABLE 192 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY FORM, 2023–2028 (TON)
                    TABLE 193 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY FORM, 2023–2028 (USD THOUSAND)
           9.5.3 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY USAGE TYPE
                    TABLE 194 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (TON)
                    TABLE 195 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (USD THOUSAND)
                    TABLE 196 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (TON)
                    TABLE 197 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (USD THOUSAND)
           9.5.4 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY
                    TABLE 198 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                    TABLE 199 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                    TABLE 200 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                    TABLE 201 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
           9.5.5 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY COUNTRY
                    TABLE 202 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY COUNTRY, 2018–2022 (TON)
                    TABLE 203 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY COUNTRY, 2018–2022 (USD THOUSAND)
                    TABLE 204 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY COUNTRY, 2023–2028 (TON)
                    TABLE 205 MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY COUNTRY, 2023–2028 (USD THOUSAND)
                    9.5.5.1 Saudi Arabia
                               9.5.5.1.1 Vision 2030 to drive market
                               9.5.5.1.2 Saudi Arabia: Basalt fiber market, by end-use industry
                                              TABLE 206 SAUDI ARABIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 207 SAUDI ARABIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 208 SAUDI ARABIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 209 SAUDI ARABIA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.5.5.2 South Africa
                               9.5.5.2.1 Growth of construction & infrastructure industry to fuel market
                               9.5.5.2.2 South Africa: Basalt fiber market, by end-use industry
                                              TABLE 210 SOUTH AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 211 SOUTH AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 212 SOUTH AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 213 SOUTH AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.5.5.3 UAE
                               9.5.5.3.1 Upcoming strategic events to boost market
                               9.5.5.3.2 UAE: Basalt fiber market, by end-use industry
                                              TABLE 214 UAE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 215 UAE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 216 UAE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 217 UAE: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.5.5.4 Rest of Middle East & Africa
                               9.5.5.4.1 Rest of Middle East & Africa: Basalt fiber market, by end-use industry
                                              TABLE 218 REST OF MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 219 REST OF MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 220 REST OF MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 221 REST OF MIDDLE EAST & AFRICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
    9.6 LATIN AMERICA 
           9.6.1 RECESSION IMPACT ON LATIN AMERICA
           9.6.2 LATIN AMERICA: BASALT FIBER MARKET, BY FORM
                    TABLE 222 LATIN AMERICA: BASALT FIBER MARKET, BY FORM, 2018–2022 (TON)
                    TABLE 223 LATIN AMERICA: BASALT FIBER MARKET, BY FORM, 2018–2022 (USD THOUSAND)
                    TABLE 224 LATIN AMERICA: BASALT FIBER MARKET, BY FORM, 2023–2028 (TON)
                    TABLE 225 LATIN AMERICA: BASALT FIBER MARKET, BY FORM, 2023–2028 (USD THOUSAND)
           9.6.3 LATIN AMERICA: BASALT FIBER MARKET, BY USAGE TYPE
                    TABLE 226 LATIN AMERICA: BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (TON)
                    TABLE 227 LATIN AMERICA: BASALT FIBER MARKET, BY USAGE TYPE, 2018–2022 (USD THOUSAND)
                    TABLE 228 LATIN AMERICA: BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (TON)
                    TABLE 229 LATIN AMERICA: BASALT FIBER MARKET, BY USAGE TYPE, 2023–2028 (USD THOUSAND)
           9.6.4 LATIN AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY
                    TABLE 230 LATIN AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                    TABLE 231 LATIN AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                    TABLE 232 LATIN AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                    TABLE 233 LATIN AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
           9.6.5 LATIN AMERICA: BASALT FIBER MARKET, BY COUNTRY
                    TABLE 234 LATIN AMERICA: BASALT FIBER MARKET, BY COUNTRY, 2018–2022 (TON)
                    TABLE 235 LATIN AMERICA: BASALT FIBER MARKET, BY COUNTRY, 2018–2022 (USD THOUSAND)
                    TABLE 236 LATIN AMERICA: BASALT FIBER MARKET, BY COUNTRY, 2023–2028 (TON)
                    TABLE 237 LATIN AMERICA: BASALT FIBER MARKET, BY COUNTRY, 2023–2028 (USD THOUSAND)
                    9.6.5.1 Brazil
                               9.6.5.1.1 Transition toward renewable wind energy to drive market
                               9.6.5.1.2 Brazil: Basalt fiber market, by end-use industry
                                              TABLE 238 BRAZIL: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 239 BRAZIL: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 240 BRAZIL: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 241 BRAZIL: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.6.5.2 Mexico
                               9.6.5.2.1 Expansion of wind energy sector to boost market
                               9.6.5.2.2 Mexico: Basalt fiber market, by end-use industry
                                              TABLE 242 MEXICO: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 243 MEXICO: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 244 MEXICO: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 245 MEXICO: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
                    9.6.5.3 Rest of Latin America
                               9.6.5.3.1 Rest of Latin America: Basalt fiber market, by end-use industry
                                              TABLE 246 REST OF LATIN AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (TON)
                                              TABLE 247 REST OF LATIN AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD THOUSAND)
                                              TABLE 248 REST OF LATIN AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (TON)
                                              TABLE 249 REST OF LATIN AMERICA: BASALT FIBER MARKET, BY END-USE INDUSTRY, 2023–2028 (USD THOUSAND)
 
10 COMPETITIVE LANDSCAPE (Page No. - 177)
     10.1 INTRODUCTION 
     10.2 KEY PLAYERS’ STRATEGIES/RIGHT TO WIN 
             TABLE 250 STRATEGIES ADOPTED BY BASALT FIBER MANUFACTURERS
     10.3 REVENUE ANALYSIS OF TOP MARKET PLAYERS 
             FIGURE 37 REVENUE ANALYSIS
     10.4 MARKET SHARE ANALYSIS 
             FIGURE 38 SHARES OF TOP COMPANIES IN BASALT FIBER MARKET
             TABLE 251 DEGREE OF COMPETITION: BASALT FIBER MARKET
     10.5 COMPANY EVALUATION MATRIX 
             10.5.1 STARS
             10.5.2 PERVASIVE PLAYERS
             10.5.3 EMERGING LEADERS
             10.5.4 PARTICIPANTS
                        FIGURE 39 BASALT FIBER MARKET: COMPANY EVALUATION MATRIX, 2022
             10.5.5 COMPANY FOOTPRINT
                        TABLE 252 COMPANY PRODUCT FOOTPRINT
                        TABLE 253 COMPANY END-USE INDUSTRY FOOTPRINT
                        TABLE 254 COMPANY REGION FOOTPRINT
     10.6 START-UP/SME EVALUATION MATRIX 
             10.6.1 PROGRESSIVE COMPANIES
             10.6.2 RESPONSIVE COMPANIES
             10.6.3 DYNAMIC COMPANIES
             10.6.4 STARTING BLOCKS
                        FIGURE 40 BASALT FIBER MARKET: SMALL AND MEDIUM-SIZED ENTERPRISES MAPPING, 2022
             10.6.5 COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
                        TABLE 255 BASALT FIBER MARKET: KEY START-UPS/SMES
                        TABLE 256 BASALT FIBER MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
     10.7 COMPETITIVE SCENARIO AND TRENDS 
             TABLE 257 BASALT FIBER MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, 2018–2023
             TABLE 258 BASALT FIBER MARKET: DEALS, 2018–2023
 
11 COMPANY PROFILES (Page No. - 190)
     11.1 KEY COMPANIES 
(Business Overview, Products/Solutions/Services offered, Recent Developments, MnM View)*
             11.1.1 KAMENNY VEK
                        TABLE 259 KAMENNY VEK: COMPANY OVERVIEW
                        TABLE 260 KAMENNY VEK: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 261 KAMENNY VEK: PRODUCT LAUNCHES
             11.1.2 ZHEJIANG SHIJIN BASALT FIBER CO., LTD. (GBF)
                        TABLE 262 ZHEJIANG SHIJIN BASALT FIBER CO., LTD. (GBF): COMPANY OVERVIEW
                        TABLE 263 ZHEJIANG SHIJIN BASALT FIBER CO., LTD. (GBF): PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 264 ZHEJIANG SHIJIN BASALT FIBER CO., LTD. (GBF): PRODUCT LAUNCHES
                        TABLE 265 ZHEJIANG SHIJIN BASALT FIBER CO., LTD. (GBF): DEALS
             11.1.3 MAFIC
                        TABLE 266 MAFIC: COMPANY OVERVIEW
                        TABLE 267 MAFIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.4 TECHNOBASALT INVEST
                        TABLE 268 TECHNOBASALT INVEST: COMPANY OVERVIEW
                        TABLE 269 TECHNOBASALT INVEST: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.5 ISOMATEX
                        TABLE 270 ISOMATEX: COMPANY OVERVIEW
                        TABLE 271 ISOMATEX: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.6 INCOTELOGY GMBH
                        TABLE 272 INCOTELOGY GMBH: COMPANY OVERVIEW
                        TABLE 273 INCOTELOGY GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.7 SUDAGLASS FIBER TECHNOLOGY
                        TABLE 274 SUDAGLASS FIBER TECHNOLOGY: COMPANY OVERVIEW
                        TABLE 275 SUDAGLASS FIBER TECHNOLOGY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.8 BASALT FIBER TECH
                        TABLE 276 BASALT FIBER TECH: COMPANY OVERVIEW
                        TABLE 277 BASALT FIBER TECH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.9 BASALTEX
                        TABLE 278 BASALTEX: COMPANY OVERVIEW
                        TABLE 279 BASALTEX: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.10 JIANGSU TIANLONG CONTINUOUS BASALT FIBER CO., LTD.
                        TABLE 280 JIANGSU TIANLONG CONTINUOUS BASALT FIBER CO., LTD.: COMPANY OVERVIEW
                        TABLE 281 JIANGSU TIANLONG CONTINUOUS BASALT FIBER CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.11 ARMBAS
                        TABLE 282 ARMBAS: COMPANY OVERVIEW
                        TABLE 283 ARMBAS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.12 DEUTSCHE BASALT FASER GMBH
                        TABLE 284 DEUTSCHE BASALT FASER GMBH: COMPANY OVERVIEW
                        TABLE 285 DEUTSCHE BASALT FASER GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.13 BASALT ENGINEERING, LLC
                        TABLE 286 BASALT ENGINEERING, LLC: COMPANY OVERVIEW
                        TABLE 287 BASALT ENGINEERING, LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             11.1.14 FINAL ADVANCED MATERIALS
                        TABLE 288 FINAL ADVANCED MATERIALS: COMPANY OVERVIEW
                        TABLE 289 FINAL ADVANCED MATERIALS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
     11.2 OTHER PLAYERS 
             11.2.1 BASTECH
                        TABLE 290 BASTECH: COMPANY OVERVIEW
             11.2.2 SICHUAN AEROSPACE TUOXIN BASALT INDUSTRIAL CO., LTD.
                        TABLE 291 SICHUAN AEROSPACE TUOXIN BASALT INDUSTRIAL CO., LTD.: COMPANY OVERVIEW
             11.2.3 ASA.TEC GMBH
                        TABLE 292 ASA.TEC GMBH: COMPANY OVERVIEW
             11.2.4 FIBERBAS CONSTRUCTION AND BUILDING TECHNOLOGIES
                        TABLE 293 FIBERBAS CONSTRUCTION AND BUILDING TECHNOLOGIES: COMPANY OVERVIEW
             11.2.5 SICHUAN JUMEISHENG NEW MATERIAL TECHNOLOGY CO., LTD.
                        TABLE 294 SICHUAN JUMEISHENG NEW MATERIAL TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
             11.2.6 ZHENGZHOU AURON BASALT FIBER CO., LTD.
                        TABLE 295 ZHENGZHOU AURON BASALT FIBER CO., LTD.: COMPANY OVERVIEW
             11.2.7 NINGBO KAXITE SEALING MATERIALS CO., LTD.
                        TABLE 296 NINGBO KAXITE SEALING MATERIALS CO., LTD.: COMPANY OVERVIEW
             11.2.8 ARMOFIB LTD
                        TABLE 297 ARMOFIB LTD: COMPANY OVERVIEW
             11.2.9 JILIN TONGXIN BASALT TECHNOLOGY CO., LTD.
                        TABLE 298 JILIN TONGXIN BASALT TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
             11.2.10 NANYANG INVECH GROUP
                        TABLE 299 NANYANG INVECH GROUP: COMPANY OVERVIEW
 
*Details on Business Overview, Products/Solutions/Services offered, Recent Developments, MnM View might not be captured in case of unlisted companies.
 
12 APPENDIX (Page No. - 226)
     12.1 DISCUSSION GUIDE 
     12.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     12.3 CUSTOMIZATION OPTIONS 
     12.4 RELATED REPORTS 
     12.5 AUTHOR DETAILS 

The study involved two major activities in estimating the current size of the basalt fiber market. Exhaustive secondary research was carried out to collect information on the market, peer markets, and the parent market. The next step was to validate the findings obtained from secondary sources, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the total market size. After that, the market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to for this research study include financial statements of companies offering basalt fiber and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. The secondary data was collected and analyzed to arrive at the overall size of the basalt fiber market, which was validated by primary respondents.

Primary Research

Extensive primary research was conducted after obtaining information regarding the basalt fiber market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from basalt fiber industry vendors; system integrators; component providers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to technology, application, vertical, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using the basalt fiber industry, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of basalt fiber and future outlook of their business which will affect the overall market.

The Breakup of Primary Research:

Basalt Fiber Market Size, and Share

Note: Companies are classified based on their revenues, product portfolios, and geographical presence.

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Market Size Estimation:

The research methodology used to estimate the size of the basalt fiber market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations of basalt fiber in different applications at a regional level. Such procurements provide information on the demand aspects of the basalt fiber industry for each application. For each application, all possible segments of the basalt fiber market were integrated and mapped.

Basalt Fiber Market Size: Botton Up Approach

Basalt Fiber Market Size, and Share

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Basalt Fiber Market Size: Top Down Approach

Basalt Fiber Market Size, and Share

Data Triangulation:

After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.

Market Definition

Basalt fiber, a material derived from the fine filaments of basalt rock, composed of multiple minerals, boasts superior tensile strength when compared to E-glass fibers. What sets basalt fibers apart from their counterparts is their exceptional attributes in terms of thermal stability, heat and sound insulation, resistance to vibrations, and overall durability. Notably, these fibers shine in terms of environmental friendliness and recyclability, making them a sustainable choice. Besides these advantages, basalt fibers can be combined with carbon fibers to create affordable hybrid fibers. Across a wide range of end-use sectors, such as building and infrastructure, automotive and transportation, wind energy, marine, electrical and electronics, and more, they find flexible uses as both composites and non-composites.

However, it is noteworthy that basalt fibers are more expensive than the commonly used E-glass fibers. Because of this, even while the market for basalt fiber is expanding quickly, it is still in its infancy, particularly in comparison to the widespread use of E-glass fibers across a range of industries.

Key Stakeholders

  • Basalt fiber manufacturers and distributors
  • Key application segments for Basalt fiber
  • Research and consulting firms
  • R&D institutions
  • Associations and government institutions
  • Environmental support agencies

Report Objectives:

  • To estimate and forecast the size of the basalt fiber market in terms of volume (Tons) and value (USD Thousand)
  • To define, describe, and forecast the size of the basalt fiber market based on form, usage, end use industry, and region.
  • To forecast the size of various segments of the market based on five main regions- Asia Pacific, North America, Europe, the Middle East & Africa, and Latin America, along with major countries in each region
  • To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the basalt fiber market across the globe
  • To identify and profile key market players and analyze their core competencies

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The following customization options are available for the report:

Product Analysis

  • Product matrix, which provides a detailed comparison of the product portfolio of each company's market
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Report Code
CH 3164
Published ON
Oct, 2023
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